New chief executive of Brazil's state-run oil company Petroleo Brasileiro SA, Pedro Parente, gestures during his inauguration ceremony in Rio de Janeiro, Brazil, June 2, 2016. REUTERS/SERGIO MORAES The man who oversaw the transformation of Petrobras from a lumbering state oil monopoly into a thriving public-private partnership more than a decade ago is back in... Continue Reading →
Brazil oil group expects bill ending subsalt exclusivity soon
June 2, 2016 9:58am EDT Reuters Brazil's lower house of Congress could pass a bill in July ending the exclusive right of state-run oil company Petrobras to operate new projects in the deep-sea offshore area known as the subsalt, the head of Brazil's oil industry association IBP said on Thursday. Jorge Camargo, speaking at a... Continue Reading →
Early Tender Results and Early Settlement for Waterfall Tender Offers and Extension of the Early Tender Date and Increase of Consideration for Any and All Offer
Rio de Janeiro, June 1, 2016 - Petróleo Brasileiro S.A. - Petrobras hereby announces results and amendments with respect to the previously announced tender offers by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”). Waterfall Tender Offers Petrobras hereby announces that holders of US$7,523,494,000 and €1,920,133,000 principal amount of the outstanding notes of the series... Continue Reading →
Petrobras CEO Says No More Political Interference in Oil Company
Petroleo Brasileiro SA’s new Chief Executive Officer Pedro Parente said political interference has ended in the state-run oil producer and that fuel price decisions will now be made according to the company’s best interests. A solution to Petrobras’s debt, the largest in the industry, includes selling part of its assets, he told reporters after his... Continue Reading →
Brazil Solicitor General Asks Court for Fines, Restitution in Corruption Scandal
Solicitor General Fábio Medina Osório is seeking more than $6 billion in penalties and repayments in cases connected to Petróleo Brasileiro A sign at a Petrobras BR gas station in Rio de Janeiro, Brazil. PHOTO: BLOOMBERG NEWS By ROGERIO JELMAYER/WSJ May 31, 2016 12:05 p.m. ET SÃO PAULO—Brazil’s top legal official has asked a court... Continue Reading →
Brazil’s Corruption Probe Likely to Expand to Other Petrobras Suppliers
So-called Car Wash investigation could extend to next year, a source said/WSJ Brazil’s corruption investigation could include more of state oil company Petróleo Brasileiro SA’s suppliers, according to a person involved in the probe. PHOTO: AGENCE FRANCE-PRESSE/GETTY IMAGES By LUCIANA MAGALHAES/WSJ May 31, 2016 3:54 p.m. SÃO PAULO—Brazilian authorities are expanding their sweeping investigation into... Continue Reading →
Petrobras – New CEO and changes to Management
Rio de Janeiro, May 30, 2016 - Petróleo Brasileiro S.A. - Petrobras hereby announces that it received today a letter of resignation from Mr. Aldemir Bendine of Petrobras’ Board member and CEO positions. Additionally, Mr. Aldemir Bendine also resigned today, the office of Member of the Board of Petrobras Distribuidora – BR. In light of... Continue Reading →
Petrobras CEO Bendine offers resignation; replacement passes test
Petroleo Brasileiro S.A. (PETROBRAS) CEO Aldemir Bendine smiles during a news conference in Rio de Janeiro, Brazil, March 21, 2016. REUTERS/SERGIO MORAES Aldemir Bendine, chief executive officer of Brazil's state-led oil company Petroleo Brasileiro SA (PETR4.SA), offered his resignation on Monday and is set to be replaced by Pedro Parente, a source with direct knowledge... Continue Reading →
BTG Said to Seek Sale of Stake in Petrobras Africa Joint Venture
Grupo BTG Pactual, the Brazilian bank that was forced to sell assets after the arrest of its founder last year, is exploring the sale of its 50 percent stake in an African joint venture with state-run oil company Petroleo Brasileiro SA, according to people with knowledge of the matter. BTG has held sales talks with... Continue Reading →
Clarification of News Item: Appointment of Parente as CEO of Petrobras
Rio de Janeiro, May 24, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 226/2016-CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 226/2016-CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published today in the Empresas (Companies) section of the newspaper Valor Econômico, entitled Parente deve assumir Petrobras no dia 31 (Parente... Continue Reading →
